Latest Threads on News from companies

Emirates Central Cooling Systems Corporation (Empower), a leading district cooling services provider, has entered into a new agreement with Mitsubishi Heavy Industries Thermal Systems to supply advanced chillers with a capacity of up to 100,000 Refrigeration Tons (RT). The agreement, signed on October 8, 2024, involves the supply of 18 energy-efficient water-cooled centrifugal chillers with an initial capacity of 56,250 RT for various district cooling projects in Dubai. There is an option to increase the order by December 31, 2024, potentially reaching 100,000 RT. This is the second collaboration between Empower and Mitsubishi, following a previous agreement in 2021. Empower's CEO, Ahmad Bin Shafar, highlighted the deal's role in advancing the district cooling sector and supporting a carbon-neutral future through energy-efficient solutions. The agreement aligns with Empower's strategy to enhance its plants with innovative technologies, contributing to its environmental and societal goals and maintaining its leadership in the global district cooling market.

GFH Financial Group announced that the Ordinary General Meeting scheduled for Wednesday, October 2, 2024, did not achieve the required quorum, with only 41.58% attendance. Consequently, a second meeting is planned for Wednesday, October 9, 2024, at 11:00 a.m., to be conducted via modern visual communication methods. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

Multiply Group PJSC has issued a notice regarding the misuse of its company name, employee names, and logo by scammers who promote fraudulent investment opportunities online. These scammers may ask for personal and financial information, claiming it is for paying tender fees or investing in Multiply. Multiply emphasizes that it will never request such information or payments through email or other communication channels. Individuals are advised to be cautious and verify the legitimacy of any requests, ensuring communications come from the official "@multiply.ae" domain. Multiply does not solicit personal information or payments from the public for investments or tenders. For updates and protection against scams, individuals are encouraged to visit Multiply's official website and check the News and Disclosures section on the ADX website.

HAYAH Insurance Company P.J.S.C., located in Abu Dhabi, UAE, is a Public Joint Stock Company with a paid-up capital of AED 200 million, registered at the Central Bank of the UAE since 2008. On October 9, 2024, the company's Board of Directors held a meeting from 11:00 AM to 2:25 PM, with all nine board members present, achieving full quorum. The board discussed recent business and administrative developments. Mohamed Seghir, the Chief Executive Officer, is the authorized signatory for the meeting's resolutions.

Ooredoo successfully raised USD 500 million through an oversubscribed 10-year bond issuance with an annual coupon rate of 4.625%, maturing in October 2034. The bond achieved a spread of 88 basis points over 10-year U.S. Treasuries, marking the tightest spread in Ooredoo's history and one of the lowest for a global telecommunications company since 2020. The issuance was 3.6 times oversubscribed, attracting a diverse group of investors from the U.S., U.K., Europe, Asia, and the MENA region. The proceeds will be used for general corporate purposes, including refinancing existing debt. The bonds are rated A2 by Moody's and A by S&P. Ooredoo's Group CEO, Aziz Aluthman Fakhroo, highlighted the strong investor confidence in the company's strategy and financial performance. The issuance was coordinated by Citigroup, J.P. Morgan, and HSBC.

Multiply Group PJSC has issued a notice regarding the misuse of its company name, employee names, and logo by scammers promoting fraudulent investment opportunities and tenders online. These scammers may request personal, business, and financial information, including credit card and bank details, under the guise of paying tender fees or investing in Multiply. Multiply emphasizes that it will never request such information or payments through email, mail, or any other means. Individuals are advised to exercise caution and verify the legitimacy of any requests before making payments. Official communications from Multiply will only come from the "@multiply.ae" domain. To stay informed and protect against scams, individuals are encouraged to visit Multiply's official website and the News and Disclosures section on the ADX website.